Loading markets...

Wednesday are understood to be holding out for a fee in the region of £1million for Grant.

Owls boss Alan Irvine admitted Burnley's third offer fell short of their valuation of Grant

"It was an improved offer, but fell way short of what it would take for us to consider selling him," Irvine told the Sheffield Star.

Skysports.com understands, Burnley are preparing a new improved bid for Grant as they look to tie up a deal early next week.

Grant is believed to be keen on a move to Turf Moor to link up with former Owls boss Brian Laws.

Meanwhile, a calm Irvine has revealed he and his squad are continuing their pre-season preparations as normal after Friday's news that the South Yorkshire club were issued with a winding-up order by Her Majesty's Revenue and Customs.

"It something that's completely out of my control, something which I'm told is really a bit of a storm in a teacup. We just get on with the work on the training ground," he added.

"It's something that will be sorted out. Nobody has any real concerns. I've read the statement from the club and the statement from the bank. Normally if there's something going on, there's a bit of banter about it among the players. There wasn't even any of that. We just carry on."